Often touted as the backbone of an economy, Bangladesh has never wholeheartedly nurtured the cottage, micro, small and medium enterprises sector like the governments around the world, particularly those of China, India, the UK, the US.
“I had to let go of many employees, close down shops, and shift to mostly online deliveries,” shares Ashna Afroze, CEO and Founder of Prakriti Farming, when speaking about the initial hit faced by her small and medium-sized enterprise (SME) during the COVID-19 pandemic.
The stimulus package for the CMSME (Cottage, micro, small, and medium sized enterprises) sector has failed to get momentum despite the fact that Bangladesh Bank rolled out a credit guarantee scheme (CGS) to prop up lenders.
